ECONOMY

Anglo Asian Mining PLC (AAM), operating in Azerbaijan and engaged in the production of gold, copper, and silver, has announced its gold production forecasts for 2026. “Elchi” reports that AAM expects gold production to be between 28,000 and 33,000 ounces in 2026. This is an increase of approximately 30% compared to the 25,061 ounces recorded […]

Russia and Iran will begin construction of the Rasht-Astara railway project on April 1. “Elchi” reports that this was stated by Russian Energy Minister Sergei Tsivilev. He noted that the parties were able to resolve all controversial issues that delayed the start of the project. According to Tsivilev, Russia and Iran have resolved almost all […]

British company BP, together with its partners, has invested more than 89 billion dollars in projects implemented in Azerbaijan. According to “Elchi”, BP has spent more than 115 million US dollars on social investment projects in the country on behalf of itself and its partners in joint projects operated by it since it started operating […]

The price of gold futures per troy ounce (31.1 grams) has increased in commodity markets. “Elchi” reports with reference to the exchange data that the price of April 2026 futures for one troy ounce of gold on the COMEX commodity exchange in New York increased by 0.90% to 4950 US dollars. The price of March […]

The Central Bank of Azerbaijan has announced today’s exchange rates. According to “Elchi”, on February 18, the exchange rate of the US dollar remained unchanged at 1.7000 manat, and the Turkish lira was 0.0389 manat. The Euro rose to 2.0132 manat, and 100 Russian rubles to 2.2246 manat. Ad – 00:13   1 US dollar USD […]

In January of this year, Azerbaijan exported 197,053.85 tons of crude oil to Romania. According to “Elchi”‘s report referring to the State Customs Committee, the value of this amount of product amounted to 93 million 673.99 thousand US dollars. The volume of exported products is 6.8% more than in January 2025, and the value is […]

In the first half of last year, procurements carried out in Azerbaijan using the single-source procurement method amounted to 57.8% of total procurements in terms of value. “Elchi” reports this with reference to the Chamber of Accounts. According to the information, in the structure of procurements carried out using the single-source procurement method, the procurement […]

In 2023-2025, the registration of 23 internet providers in Azerbaijan was canceled for various reasons. The Information and Communication Technologies Agency (ICTA) told “Elchi” about this. According to the information, the main reasons for removing these companies from registration include non-compliance with the requirements of the legislation, suspension of activities, reorganization of the legal entity, […]

Another type of subsoil use is determined. According to “Elchi”, this is reflected in the amendment to the Law “On Subsoil” proposed for discussion at today’s meeting of the Milli Majlis Committee on Natural Resources, Energy and Ecology. The use of sediments (sand, gravel, clay) collected in reservoirs or water bodies, as well as rocks […]